Sales

Mohammad Anas Wahaj | 17 sep 2024

Ecommerce is a necessity for global businesses. Studies show that there will be 2.71 billion online shoppers in 2024. Global ecommerce has its own challenges and strategic requirements that need to be addressed by businesses to succeed in diverse markets. According to estimates B2B ecommerce will reach US$ 36 trillion by 2026 and B2C ecommerce will reach US$ 5.5 trillion by 2027. Global ecommerce reached US$ 4.8 trillion in 2023 and by 2027, about 23% of total retail sales will happen online. SOME TOP GLOBAL ECOMMERCE STATISTICS - Latin American countries (LATAM) will continue to adopt ecommerce in coming years and will see a 22% growth between 2023 and 2026 - accumulating more than $700 billion in total combined online retail sales; Philippines' ecommerce market is the fastest-growing in the world, with a 24.1% growth in sales in 2023; Almost half of US shoppers plan to spend more online in 2024; As of January 2024, the average conversion rate across ecommerce sites was 1.88%, a 0.14% increase from the previous year; The global B2C ecommerce is expected to reach US$ 9 trillion by 2032; Social commerce is poised to grow at a CAGR of 30% from 2023 to 2030; 89% of retailers foresee an increase in revenue between 1% and 9% for 2024; 47% of leaders indicated ecommerce profitability is a primary driver of operating margin increases in 2024; 97% of companies globally reconfigured their supply chains in 2023; Shipping rates saw a 193% rate increase since October 2023; 46% of retail respondents expect AI to enhance end-to-end supply chain visibility; Foreign direct investment in North America has grown by 134% since 2020. GLOBAL ECOMMERCE TRENDS TO WATCH - Global inflation pressures (57% of consumers are worried about inflation); More consumers will shop on their smartphones (Some forecasts mobile commerce to reach US$ 558 billion in 2024, accounting for 7.6% of total retail sales and global mobile commerce market was worth US$ 2.2 trillion in 2023); A new mix of marketing channels (Social commerce, live shopping/livestreaming commerce, connected TV advertising); A slowly stabilizing supply chain; Faster deliveries for everyone, no matter where the customer is; Online returns are growing with ecommerce; Improving workforce management with AI (41% of retailers aim to improve workforce management using AI in 2024); Growing sales in China (market s estimated to be worth US$ 1.43 trillion in 2024), APAC (estimated market size of US $4.2 trillion in 2024) and India (market size will reach US$ 111 billion by 2024). Read on...

Shopify: Global Ecommerce Statistics: Trends to Guide Your Store in 2025
Author: Michael Keenan

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Mohammad Anas Wahaj | 20 mar 2024

According to GlobalData 2023 Q4 Consumer Survey, firms are held accountable by public on their stand on social issues such as human and animal welfare, fair trade, health etc and those that fail to consider and act on it risk losing sales. Survey finds that 31% of Middle East & African consumers and 29% of Asian consumers admitted that they find it essential for products to be ethical or support social causes. Global conflicts and geopolitical issues also influence consumer perception and impact businesses. Meenakshi Haran, lead consumer analyst at GlobalData, says, 'Consumers are increasingly making decisions based on responsibility towards ethical and social issues, driving the need for companies and brands to continually set measures to create and develop genuinely responsible products and services.' Isha Varma, Middle East business development manager at GlobalData, says, 'The Middle East, given its high spending ability, and Asia, with its 'surging' population represent huge growth opportunities for brands - however those that operate in these markets need to send a clear and transparent message about their commitment to ethical and social responsibility to mitigate any loss of reputation and revenues.' Read on...

ESM - European Supermarket Magazine: Brands Ignoring Ethical Consumerism Face Sales Risk, Says GlobalData
Author: Steve Wynne-Jones

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Mohammad Anas Wahaj | 27 feb 2024

Clear and specific sales goals and objectives are important for success of retail businesss and assists to measure sales performance, sales team member accountability, visualize targets and motivate the team. Sales goals include - Annual goals (Specify overall sales revenue target for a year); Quarterly, monthly, weekly, and daily goals (More achievable short-term goals to accomplish and stay motivated); Individual goals (Provide sense of ownership and accountability to individual team members); Team goals (Boosts employee engagement and assesses team capabilities. Encourages teamwork and competitive spirit); Activity goals (Actions team members should take to achieve targets such as virtual customer interaction initiation, post-purchase email campaigns, customer engagement on social media etc); Stretch goals (Goals that go beyond initial goals and taking more challenges. Need incentives and rewards to motivate team); Waterfall goals (Allows to build upon goals over time incrementally and gradually. Ensures quality and avoids team burnout); Sequence goals (Prioritize goals according to value). Before setting sales goals it is important to have historial sales data, systems needed to achieve goals, consumer and market trends, sales promotions and events throughout the year etc. Then following strategies can be applied - Set SMART (Specific, Measurable, Attainable, Relevant, Time-bound) sales goals; Analyze sales cycle; Identify a coolective goal; Use data to set goals; Calculae break-even point; Avoid confusing sales goals and objectives with metrics. Following are 11 real-life sales goals objectives - Increase your monthly, quarterly, or annual sales revenue; Increase average order value (AOV); Increase customer lifetime value (CLTV); Decrease customer churn; Reduce customer acquisition costs (CAC); Reduce sales cycle time; Boost conversion rate; Increase lead generation; Improve gross profit margins; Increase sales per channel (and test new channels); Reduce abandoned cart rate. Once the goals are set, teams should work hard to achieve them - Communicate with sales associates; Offer mentorship and suppor; Provide the highest of level of customer service possible; Ensure your staff are knowledgeable about the products you sell; Use gamification and rewards to motivate sales staff ; Leverage consumer psychology and behavior; Regularly track and analyze sales goals; Put your SMART sales goals into action. Read on...

Shopify: 11 Retail Sales Goals Examples & How to Achieve Them (2024)
Author: Alexis Damen

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Mohammad Anas Wahaj | 25 may 2023

Businesses have to find innovative ways to enhance customer engagement and involve them in their marketing initiatives. 13 experts from Rolling Stone Culture Council share ideas to guide marketing leaders to drive successful customer engagement - (1) Amanda Reiman of Personal Plants: Match the approach to the customer. (2) Candice Georgiadis of Digital Agency Inc: Give the best possible customer experience. (3) Joshua Adragna of Eyerate: Promote user-generated content (UGC). (4) Adam Ayers of Number 5: Leverage scarcity as consumers seek uniqueness and want to stand out. (5) Christian Anderson (Trust'N) of Lost Boy Entertainment LLC: Do story shoutouts during giveaways. (6) Adam Rumanek of Aux Mode Inc: Offer giveaways and ask audience questions. (7) Theo Sastre-Garau of NFTevening: Create a sense of urgency and exclusivity around campaigns. (8) Jacob Mathison of Mathison Projects Inc: Leverage community-source content and utilize open innovation and design thinking. (9) Cynthia Johnson of Bell + Ivy: Host a contest. (10) Jennifer Sodini of Hidden Hand Media: Gamify your marketing. (11) Igor Beuker of Igor Beuker: Move beyond social media, own your fans and IP, and have opt-in email database. (12) Susan Johnston of New Media Film Festival: Go back to grassroots marketing. (13) Ben Spell of GOOD RANCHERS: Do tease campaigns before they're live. Read on...

Rolling Stone: 13 Strategies to Drive Customer Participation in Marketing Initiatives
Author: NA

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Mohammad Anas Wahaj | 14 mar 2023

In the B2B sales management, leadership has to ensure that the team works efficiently and effectively. B2B sales is different from B2C as the deal size is larger and sales cycles are longer. B2B sales teams have engagement dynamics with their stakeholders at multiple levels and need to manage internal and external teams for deal success. Oscar Chavez, founder of Growthly Group, provides four B2B sales management strategies to be implemented to help improve B2B sales team's performance - (1) Set Clear, Measurable Goals: The goals should be specific, time-bound, challenging and achievable. This provides sense of direction and purpose and helps to focus efforts and stay motivated throughout the sales process. (2) Provide Training and Development Opportunities: To enhance team's performance provide formal training programs like workshops and classes, and also informal training opportunities like coaching and mentoring. (3) Use Data to Measure and Track Performance: This includes tools like sales metrics, customer feedback and surveys. Helps identify team's areas of excellence and shortcomings. Metrics include the number of deals closed, the average deal size, the close rate, the number of meetings attended within a month and the follow-up rate. Customer feedback is also essential. (4) Remain Flexible and Foster a Strong Company Culture: Create a positive and supportive work environment and foster a culture of teamwork, collaboration and open communication. Have a system of incentives and bonuses for reaching targets and achieving goals. This helps sales team to stay motivated and improve performance. Regularly monitor, evaluate and adjust these strategies to ensure team's best performance. Read on...

Forbes: 4 Strategies To Improve Your B2B Sales Team's Performance
Author: Oscar Chavez

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Mohammad Anas Wahaj | 28 jul 2022

Recent research report, 'The State of Shipping Report 2022: Why Faster Shipping Matters', developed in partnership between X Delivery and Retail Management Institute of Santa Clara University, points out the importance of fast, free, and effective shipping on online brands' customer relationships. According to the report, 62% of shoppers expect their orders to arrive in less than 3 business days when choosing free shipping. On the contrary, more than 4/5ths of leading fashion and apparel retailers are still using 5-8 day delivery options to service free shipping orders. Prof. Kirthi Kalyanam, Executive Director of the Retail Management Institute of Santa Clara University, says, 'Customers want shipping to be free and fast — and they’re willing to abandon carts and walk away from brands that fail to deliver on both fronts. Today’s consumers are more demanding than ever, and it’s up to merchants to give them the streamlined, expedited shipping experiences that they crave.' Peter Sheldon, SVP of Strategy & Business Development at X Delivery, says, 'Everyone understands the ROI of free shipping, but many retail brands aren't yet providing affordable and convenient expedited shipping options. retailers that step up and elevate their delivery options have an opportunity to upgrade their brand experience, reduce cart abandonment, and capture significant ROI.' Read on...

Retail Dive: Survey: 62% of shoppers expect their free shipping orders to arrive in 3 business days
Author: NA

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Mohammad Anas Wahaj | 29 jun 2022

Selling is an evolving art and it has become more challenging to connect, convince, engage and build relationships with the tech-savvy and freedom prefering consumers when they embark on their buying journey. 11 members of the Forbes Coaches Council have experienced advice for salespeople for success in 2022 - (1) Merge The Old With The New (Divya Parekh, DP Group): 'It is critical to know current market trends and become familiar with how people think and act...The goal is to help your customers find a solution to their problems. This allows customers to see the value you offer and create trust...' (2) Become A Trusted Advisor (John Lowe, Ty Boyd Inc.): 'To become a trusted advisor, a rep needs to leave their sales baggage at the door...People don't want to be sold; they want you to help them make a decision to buy.' (3) Utilize In-Person And Social Selling Platforms (Antonio Garrido, Absolute Sales Development): 'Follow a successful "hybrid" sales and prospecting process which includes remote/virtual as well as in-person selling...Follow a behavioral plan, and hold yourself accountable for it. Ask for feedback and critique. Become a lifelong learner.' (4) Ask Good Questions And Actively Listen (José Luís González Rodriguez, ActionCOACH): 'The most revolutionary selling technique is the Socratic method...The most professional sale is the one made by the client...' (5) Connect With Your Customers' Values (Natasha Charles, Intuitive Coaching w/ Natasha Charles): 'Your customers desire a personalized, customized experience...' (6) Understand How People Think (Chuen Chuen Yeo, ACESENCE Agile Leadership Coaching and Training Pte. Ltd.): 'Don't rely on tactics that manipulate clients...Think about winning ambassadors, not customers. Connect with curiosity and have the real intention to serve.' (7) Build Honest Relationships With Customers (Michael Thiemann, Strategy-Lab™): '...Remember that customers are less interested in the product than in the result. Your product may only help solve part of their problem; help them solve the other parts too.' (8) Build Relationships The Old-Fashioned Way (John M. O'Connor, Career Pro Inc.): 'Take someone out to eat. Invite them to a talk. Send them a thoughtful, handwritten note with an article in it that you cut out of the newspaper or a magazine...Try to focus on building a more personal relationship and not so much on making transactional sales.' (9) Be A Presence Of Honesty And Integrity (Natasha Ganem, Lion Leadership): '...The only thing they need to sell is a good relationship. Get good at being in a community and in relationships with people in meaningful ways, and then sales will follow.' (10) Help Customers Avoid Pain And Gain Pleasure (Csaba Toth, ICQ Global): 'The highest level of influence is when somebody can connect their message to the other person's highest values and vision in a language they understand. Otherwise, the message gets lost, and even if the client needs a service or product, they would not want it...' (11) Seek To Understand Before Offering Solutions (Bryan Powell, Executive Coaching Space): 'Meet your clients where they are. In today’s environment, it is imperative for the "modern salesperson" to develop a curious mindset and seek to understand before offering a solution...' Read on...

Forbes: 11 Essential Tips For The Modern Salesperson In 2022
Author: NA

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Mohammad Anas Wahaj | 22 mar 2022

Just like in most businesses, digital in business-to-business (B2B) is transforming customer relationships. Digital transformation is the way forward to succeed in B2B space. According to Michiel Schipperus, CEO of Sana Commerce, mentioned in ITProPortal article 'Why should e-commerce sit at the heart of a business’ digital transformation?' (25 may 2018), 'In a recent survey that we conducted with 300 global B2B organisations, 75% of respondents said that their customers had demanded to buy online, and three quarters of those gave 'ease of online purchasing' as the reason...Our survey found that over half of companies believe that web stores are the most important route to market...our survey found that 63% of organisations have a digital transformation strategy in place...According to our research nearly 70% of companies will use the Internet of Things (IoT) or machine to machine technology to enable automated and/or predictive ordering for customers. While 67% believe that virtual reality will help personalise the B2B buying experience.' Chris Shalchi, President and CEO of Mavecca Group, explains the benefits of digital transformation for B2B businesses and what is required to provide value and meet customer expectations in the highly competitive B2B ecosystem. He provides 4 benefits of transforming to digital-native ecosystem - (1) Managing buyer expectations is easier through digital as more and more customers prefer purchasing online and find it comfortable for subsequent buying. (2) Through right B2B e-commerce software businesses can provide enhanced buyer experience with improved processes and automation. With data and analytics, the knowledge about consumers can help organizations customize buyer experience for better relationships. (3) With digital B2B businesses can develop an automatic cross-sell and up-sell suggestion program to reach existing customers and expand customer base, thus increasing sales. (4) Using data and analytics to enhance decision making is one of the key benefits of digital. With the use of artificial intelligence (AI) and machine learning (ML) that would provide predictive analytics, organizations have better control and enhanced decision-making, resulting in improved processes. As substantial decision-making in B2B purchases happens before a sales person is contacted, B2B businesses can create and deliver engaging content and have an elaborate communications strategy through digital channels for initiating purchase. B2B organizations have to fully understand what their customers want. Aligning of marketing and sales functions, and efficiently using data is important for overall customer-focused digital strategy. Read on...

Forbes: Make Your B2B Business A Digital Business
Author: Chris Shalchi

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Mohammad Anas Wahaj | 28 jan 2022

Internet and technology has been consistently driving the shift in the retail sector processes. COVID-19 pandemic accelerated it and also significantly changed the consumer shopping behavior. According to McKinsey article titled 'The great consumer shift: Ten charts that show how US shopping behavior is changing' (Authors: Tamara Charm, Becca Coggins, Kelsey Robinson, Jamie Wilkie), 75% of US consumers are trying a new shopping behavior during pandemic in response to economic pressures, store closings, and changing priorities. This general change in behavior has also been reflected in a shattering of brand loyalties, with 36% of consumers trying a new product brand and 25% incorporating a new private-label brand. Moreover, most consumers intend to continue this behavior beyond the pandemic-induced crisis. The McKinsey research find 10 key consumer behavior shifts: FLIGHT TO ONLINE (1) Digital shopping is here to stay. (2) Millennials and high-income earners are in the lead when it comes to shopping online; SHOCK TO LOYALTY (3) Consumers are switching brands at unprecedented rates. (4) Brands need to ensure strong availability and also convey value; NEED FOR HYGIENCE TRANSPARENCY (5) US consumers are changing how they shop in response to health and safety concerns; BACK TO BASICS AND VALUE (6) Consumer shopping intent is focused on essentials. (7) Consumers want value for their money - especially in essential categories; RISE OF THE HOMEBODY ECONOMY (8) Americans are changing how they spend their time at home. (9) Americans are concerned about going back to regular activities outside the home; BEHAVIORS VARY BY CONSUMER SEGMENT (10) 'Great consumer shift' trends vary by consumer segment. With high levels of uncertainty and competitiveness in the market, retailers have to apply innovative strategies to retain and gain consumers. Ravi Pratap Maddimsetty, Chief Technology Officer of MobStac (a physical-to-digital experience management solution), suggests use of 'phygital' marketing, a hybrid marketing channel that captures customer data to deliver a personalized experience, and provides three aspects of phygital marketing that retailers must know before integrating it into their marketing strategy - (1) Retailers Can Enhance In-Store Convenience Through Phygital Marketing: 46% of consumers still prefer to shop in person, although 63% of shopping journeys start online; Retailers needs digital infrastructure to integrate online and in-store experience; 87% of shoppers say they would prefer to shop in stores with touchless or robust self-checkout options like QR code technology. (2) Not All Phygital Solutions Maintain the Same Security Standards: Prioritize data security while choosing a phygital solution; Consumers trust retail experience that secures their data; Evaluate the security of your phygital solution through the integration of safe QR code use. (3) Phygital Marketing Drives Customer Engagement With Proximity-Based Tactics: Utilize geofencing to create digital campaigns within a defined physical radius; Geofencing strategy should capture the frequency of customer foot traffic and push out relevant notifications for past customers and potential customers. Phygital delivers enhanced retail experiences and the opportunity to better customer engagement and retention by correctly implementing phygital marketing is growing. Read on...

Total Retail: Phygital Marketing: 3 Things Retailers Should Know About the Newest Marketing Channel
Author: Ravi Pratap Maddimsetty

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Mohammad Anas Wahaj | 27 oct 2021

Continuous innovation and improvement in strategies is the key for success with rapidly changing market dynamics. Business-to-business (B2B) marketing is no different. Even though basics of B2B marketing are same as for B2C (Business-to-consumer) but it requires some special considerations as business customers are bulk buyers and B2B is the largest market transaction-wise. Marketing strategies in this case need to be fine-tuned for effectiveness. Here are few time-tested and latest B2B focused marketing strategies that should be part of companies dealing with B2B customers - (1) Account-Based Marketing: It has one of the highest conversion rates. It is a targeted marketing strategy with customized and curated campaign specifically designed for select clients. (2) Live Chat Strategy: Live chat is capable of converting a prospective lead into a client through answering queries effectively. Webchat platform reports that it has seen 2.8% more conversions than the business that doesn't use live chat support. It has also reported a 60% increment in B2B sales due to provision of live support to customer during entire purchase journey. (3) Word-of-Mouth: McKinsey reports that 20-50% of all purchasing decisions are based solely on word-of-mouth. (4) Long Content Pieces: Long-form content strategy generates more leads and requires engaging and highly curated content to target the specific business profile. (5) Podcast Marketing: COVID-19 pandemic has increased the listener base for podcasts. According to a survey, 155 million people listen to Podcasts in the US. Considering this curated podcast content is an opportunity to be tapped for reaching out to broader prospective clients. (6) AI Marketing Strategy: AI-based strategy would require product recommendations to prospective customers based on prior purchase data and behavior. (7) E-mail Marketing Strategy: It has over 122% lead generation. Targeted emails with specific content suited to prospective clients is key to the effectiveness. (8) Influencer Marketing: With rise of video-sharing platforms, influencer marketing has become an effective tool to reach clients. (9) Virtual Events: COVID-19 has exacerbated the use of virtual events for targeted marketing. It has expanded the audience reach with less efforts as compared to physical events. (10) Omnichannel Marketing: This strategy helps in reaching out to target audience through multiple channels with a unified marketing approach and helps reduce buyer friction and generate more leads. Read on...

UNB: B2B Marketing: Effective Strategies in 2021
Author: Shahriar Rabab

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Mohammad Anas Wahaj | 26 jul 2021

Sales teams are mostly a people game, but there are always some additional components that need focus depending on the industry's nuances. Chris Thrasher, Director of North American Sales at ABM, provides three characterists of a biological sales team - (1) Have A Strong Understanding Of Agronomy: Biological sales people work like consultants. Understanding of agronomy is important. Need to build upon the previous generations of agricultural knowledge and ability to understand the positives and negatives of the past in the industry can help in the sales process. (2) Have Integrity and Relate To The Customer: Sales team should be able to related to the farmers in addition to distributors and dealers. As farmers/producers are the end customer, it is essential to know what they really want and to build trust through sincerity and integrity. (3) The Ability To Hear The Word 'No': As biologicals are an add-on sales, they can become a difficult sell during adverse situations like global pandemic, abnormal weather conditions or bad commodity prices. They are not essential goods and sales persons have to be patient with the clients and have the ability to hear negative responses from customers. Lot of uncertainty is ingrained in farming regarding the future and farmers are looking for mainly basic buying of seeds, fertilizers and chemicals, biologicals are not their priority. The challenge for sales team to understand this and act accordingly. Read on...

Seed World: 3 Characteristics to Look For in a Biological Sales Team
Author: Chris Thrasher

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Mohammad Anas Wahaj | 27 oct 2020

Sales people often learn their skills on the field by continuous improvement and by tweaking their sales processes for effectiveness every time they interact with their prospective customers. But organizations have to create and nurture their sales teams through structured and proactive approach to sales training to sharpen and further refine their skills. Sales training need to be a frequent event to keep the team in right mindset and updated skillset, and clear focus on accomplishing the organizational sales goals. Sales training helps to improve skills and it is a source of motivation and inspiration. Interactions with peers and mentors during training also involves learning through sharing of experiences. Research by Sales Readiness Group shows that companies who had excellent sales training programs that exceeded expectations had higher win rates at 52.6% compared to companies that either met expectations 48% or needed improvement 40.5%. Organizations can consider three types of sales training based on their requirement - (1) Sales Skill Training (2) Sales Methodology Training (3) Product Training. Following are 20 best sales training activities, ideas, and games to enhance sales team effectiveness - Embrace Field Training; Craft a Great Incentive Strategy; Hold 1:1 Meetings; Improve Your Processes; Ramp Up Your New Employee Onboarding; Shift to Assessment-Based Learning; Institute Daily Micro-Training; Assign Mentors to New or Struggling Sales Team Members; Do Group Training the Right Way; Offer Feedback Often; Listen to and Analyze Sales Call Recordings; Conduct a Competitive Analysis; Encourage Certifications; Have Your Team Do Objection Handling Exercises; Provide Subscriptions to Industry Newsletters, Podcasts, and Publications; Display or Present Your Buyer's Journey; Play Sales Training Games; Focus on Each of Your Sales Rep's Strengths; Bring in Outsiders; Identify the Red Flags of Bad Customers. Read on...

Business2Community: 20 Sales Training Ideas to Empower Your Team to Close More Deals
Author: Erika Giles

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Mohammad Anas Wahaj | 22 sep 2020

COVID-19 brought about changes in buyer behavior and retailers responded with tech-driven solutions to help them adapt to pandemic-driven restrictions. These solutions are not totally new, but current situation brought them to the fore. Three retail technology trends that became part of the 'new normal' are - (1) Online Grocery Delivery: Shutdowns, social distancing norms, fear of infections etc combined with essentiality of grocery requirements help exacerbate this trend. Even non-traditional retailers jumped on this trend. (2) Contactless Payment: According to the 2020 State of Retail Payments study released by the NRF in August, 58% of retailers accept contactless cards and 56% take digital wallet payments on mobile phones. Since January 2020, no-touch payments have increased for 69% of retailers surveyed, of whom 94% expect the increase to continue over the next 18 months. (3) Virtual SMB Product Pitches: Number of retail platforms invited small-to-mid-sized businesses (SMBs) to virtual competitions. COVID-19 brought about homogenization and consolidation of retail and only two types of retailers will survive in this scenario and beyond - the mass and the niche. Mass retailers can enhance their product offerings through SMBs and differentiate themselves from competitors. Read on...

Chain Store Age: Three hot retail tech trends from the summer of 'new normal'
Author: Dan Berthiaume

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Mohammad Anas Wahaj | 26 jul 2020

For B2B marketing effectiveness segmentation is a reliable strategic tool. But with evolving B2B e-commerce marketplace traditional broad macrosegmentation may not suffice. According to the report, 'Microsegmentation Yields Contextual Customer Experiences That Convert' by Lori Wizdo (VP and principal analyst for B2B marketing at Forrester Research) with Caroline Robertson, Aldila Yunus and Kara Hartig, to fulfil the growing customer demand for more contextually relevant shopping experiences, B2B marketers should leverage new data and analytics tools and strategies to fine-tune macrosegmented audiences into microsegments. The report says that new data and analytics capabilities now allow B2B marketers to break macrosegmentation, that places audiences into large demographic groups such as company size, industry, geography and the end market served, down further into microsegments - covering, in addition to demographics, such criteria as customer buying behavior, record of sales growth, price sensitivity and aspirations - which allows sellers to reach even more targeted audiences. The report further says, '68% of buyers say it is important that vendors provide relevant content at each stage of their buying journey without having to rely on sales reps to deliver it. By targeting the drivers of customers’ actions, you can build trust through more empathetic, relevant content and accelerate the buyer's journey.' Some of the other valuable points of the report are - Microsegmentation will boost a B2B company's return on its content marketing and inbound strategies by using customer information to customize experiences that persuade and influence specific clusters of customers; Microsegmentation will help B2B companies build a high-yield marketing portfolio; Microsegmentation benefits both the B2B customer and the B2B seller because it results in more relevant shopping experiences for the buyer and increased conversions for the seller. Read on...

DigitalCommer360: How microsegmenting boosts B2B conversion rates
Author: Cate Flahardy

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Mohammad Anas Wahaj | 23 jun 2020

COVID-19 impacted the retail sector and brought about unforeseen challenges. Recent study by Warwick Manufacturing Group (WMG) at University of Warwick (UK) and Blue Yonder examined how retailers have responded to the COVID-19 pandemic to ensure their survival. The study is based on the survey responses from 105 different retailers from Europe, Asia and the Americas and identified the human vulnerabilities across the supply chain and the need for future investment in flexibility, visibility and automation to improve future resilience. Some of the challenges that retailers faced are - unprecedented demand for some products while no demand for others; many stores were forced to close, or adapt their operations to accommodate social distancing; shift to online shopping wherever possible but it had its own operational challenges. REPORT HIGHLIGHTS - (1) The majority (61%) of retailers used inventory to buffer against the disruption of COVID-19. Supply chain processes and systems were effective, but more than half (58%) of retailers said a high degree of manual intervention was required to respond to the fluctuation in demand and supply. (2) Workforce issues were dominant issues for retailers with 59% of warehouse and 48% store operatives being affected by quarantine or illness. This often resulted in the closure of online operations and the need to recruit temporary staff. (3) Retailers were polarised in their treatment of supplier payments, with 37% delaying payments and 30% making early payments. Prof. Jan Godsell of University of Warwick says, '...only just over a quarter (29%) of retailers relied on suppliers with more agile manufacturing and distribution networks, which is a potentially more resource efficient and resilient response. With 75 to 80% of products seeing a demand fluctuation, retailers were slightly better at responding to decreases rather than increases in demand...' Wayne Snyder of Blue Yonder says, 'A critical learning for retailers is the need to invest in creating supply chains with greater flexibility, visibility and automation. Here technologies such as artificial intelligence and machine learning will play a key role in helping retailers navigate future disruption, whilst still meeting customers’ expectations.' Read on...

University of Warwick News: New study provides insights into how retailers have responded to COVID-19
Author: Alice Scott

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Mohammad Anas Wahaj | 29 mar 2020

Global COVID-19 crisis has made content marketing vital for lead generation as all events and roundtables have been cancelled. According to the CMO Council's latest report 'Making Content Marketing Convert', only 21% of marketers are sufficiently partnered with their sales counterparts in developing and measuring demand generation programs, and most view their content marketing process as ad hoc, decentralised, and driven by internal stakeholder, rather than customer, interests. CMO Council's another report 'Better Lead Yield in the Content Marketing Field', highlighted the critical need for marketing organisations to bring more discipline and strategic thinking to content specification, delivery, and analytics. Donovan Neale-May, executive director of CMO Council, says, 'Marketers must act quickly and decisively to increase the impact, scope, reach and return of their content marketing investments in 2020.' The report said good content is vital in the selection of vendors, and peer-powered organizations are the most trusted and valued sources of online content - 67% of respondents named research and whitepapers from professional organisations among the most trusted content sources. The report recommends the following top 10 essentials for effective authority leadership-driven content marketing - (1) Partner with credible and trusted sources. (2) Produce relevant and compelling strategic insights. (3) Add customer-contributed views and validation. (4) Present authoritative, newsworthy and enriched content. (5) Engage qualified, verified and predisposed audiences. (6) Target the whole influencer, specifier and buyer ecosystem. (7) Embrace multi-channel distribution, promotion + syndication. (8) Authenticate content consumption and buyer engagement. (9) Ensure lead legitimacy and compliance. (10) Cultivate, activate and convert prospect flow. Read on...

CMO: Why content marketing can make the difference amid the COVID-19 closures
Author: Vanessa Mitchell

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Mohammad Anas Wahaj | 17 mar 2020

Social media has demonstrated its effectiveness for B2C and it has a lot to offer to B2B marketing when done with the right audience. Social platforms are all about interacting and engaging with people and B2B customers are people too. According to Forbes, 83% of executives use social media as part of their consideration of a vendor when making purchasing decisions. Of that group 92% said that they had been influenced by social media in a purchasing decision in the last year. Moreover, among B2B marketers, 82% prioritize social media marketing among their channels. Susan J. Campbell, founder of SJC Marketing, explains the benefits of going social with B2B marketing and suggests ways to do it better. She says, 'First, remember that sales and marketing are always social...Social media works for the same types of conversations...We also see social media as an opportunity to show off what we know...We offer content that we know adds value and allow our contacts to notice that we seem to have some insight to offer...This also ties in with your search engine optimization (SEO). When traffic makes it to your website via social media, it bumps up your search rankings.' According to Accenture, 94% of B2B buyers say that search is an important part of their purchasing process. Ms. Cambell suggests - Set clear goals along with related metrics to track success; Consider social media as an add on to overall B2B marketing; Develop a social media strategy focusing on conversations and engagement with potential buyers; Be consistent and share messages that target audience expect. Read on...

Business 2 Community: B2B Social Media Marketing: Because Purchasers Are People, Too
Author: Susan J. Campbell

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Mohammad Anas Wahaj | 10 dec 2019

Customers are at the core of any business. No one can think of products and services without thinking of their buyers. Profits are made with happy customers because they continue to buy products and services from those companies and organizations that keep them satisfied. They also recommend to others what they themselves like. For organizations to become truly customer-centric it is essential to create a customer oriented mindset and at the same time develop procedures and actionable tools to provide best possible customer service. This would also involve continuous training and learning on the part of customer service executives and workers. As the customer behavior changes over time with technologies so should the interactive behavior of customer service personnel to adapt to changing scenarios. But above all, the personnel who deal directly with customers should keep the care of customers in their mind and behavior at all times. Organizations should develop a proper framework for customer service excellence. Read on...

ilmeps/read: From Customer-Centric Mindset To Doing What Customers Want - Finding Ways To Do Customer Service Right And Avoiding What Not To Be Done
Author: Mohammad Anas Wahaj

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Mohammad Anas Wahaj | 18 aug 2019

Startups are enabling tech-based transformation of India's retail sector through Android-based smart PoS (Point of Sale) devices. The promise of these devices goes beyond payments and makes supply chain more efficient with data analytics and potential credit scoring. Vicky Bindra, CEO of Pine Labs, says, 'Retailers and merchants from diverse sectors such as electronics, food and beverage, fashion, pharmacy, telecom, and airlines are adopting the new smart PoS machines to improve their efficiencies and enhance consumer's shopping experience.' Praveen Hari of industry association iSPIRT says, 'Today a smart PoS device is not just accepting cards, but they can also provide UPI (unified payments interface) pull transactions, QR codes (displayed on screens), NFC (near-field communication) transactions, wallet transactions, or basically, any payment mode that is available in India.' Ashish Jhina, co-founder of Jumbotail, says, 'Today smart PoS machines can do four key business functions: payment, billing, inventory management, wholesale procurement.' Smart PoS data is also valuable for credit scoring. Mr. Hari explains, 'The GST data itself is good enough for a lender to make a lending decision and the shopkeeper or his FMCG distributor now has an incentive to report all the transactions. The transaction data itself can help a lender make a lending decision.' Manish Patel, CEO of Mswipe, says, 'We have engineered a credit model where when our merchants can borrow money (to make wholesale purchases) from any of our NBFC partners, based on data we provide...In terms of recollection, the merchant can opt to pay back in daily and monthly instalments.' Read on...

Livemint: Wireless, smart PoS devices revamping India's retail landscape
Author: Salman S. H.

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Mohammad Anas Wahaj | 19 jul 2019

Good content is essential for every content marketing strategy. But, getting requisite return on investment (ROI) defines it's business success. Steven van Vessum, co-founder & VP of Community at ContentKing, suggests ways to maximize the chances of success of content marketng strategy - (1) Best Content Is Not Equal To Most Successful Content: Be selective and start small; Assess competitor's weaknesses and know your strengths and leverage that; Put together a content promotion strategy that works for you. (2) Create Multi-Purpose Content: As lot of research and resources are used to create content, leverage it to create other types of content to get better ROI; An evergreen content piece can be partically repurposed as a conference talk, a support article, a podcast topic or a guest post. (3) Creating the Best Content Is Not That Hard, It's Just Hard Work: Focus on creating content that provides most value to the visitors and fulfils their search intent; Create a content piece that makes you think not to give it for free. (4) Core Content Is the Key to ROI: Core content is content that your target audience is interested in, and that's close to your products and/or services. Helps in transition to soft sale; Create core content, and build related content around that. (5) Control & Protect Your Investment: Social media and content platforms are easy to use and have large audience reach but they provide limited control. Moreover, they may shut down or modify their terms of service as per their convenience; External platforms often don't support adding Call-To-Action boxes or newsletter signup forms. This results in questionable or reduced ROI; Better option is to publish a summary or introduction on these platforms and link it back to the detailed or full content on your own website. Read on...

Search Engine Journal: Content Marketing: The 5 Most Important Things You Need to Know
Author: Steven van Vessum

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Mohammad Anas Wahaj | 14 jan 2019

Autonomous shopping concept intends to bring brick-and-mortar and internet shopping into a unified and integrated retail experience. The grab-and-go smart shopping carts promote cashier-free automatic check-out eliminating wait in lines. TechSpot's contributing writer, Cohen Coberly, says, 'While it seemed like brick-and-mortar retail would be all but killed off following the explosive rise of online shopping, what we're instead seeing throughout the US is not death, but evolution.' According to a 2018 survey by RIS News, 'The leading new shopping option wanted by consumers was "grab-and-go" technology (in which customers can self-checkout using their smartphones). 59% said they'd like to use this, and 9% had used it.' In a global survey of 2250 internet users conducted by iVend Retail and AYTM Market Research, 'Roughly 1/3rd of respondents said they would like to make automatic payments using digital shopping carts.' Caper is a smart shopping cart startup. Josh Constine, technology journalist and editor-at-large for TechCrunch, reports, 'The startup makes a shopping cart with a built-in barcode scanner and credit card swiper, but it's finalizing the technology to automatically scan items you drop in thanks to three image recognition cameras and a weight sensor. The company claims people already buy 18% more per visit after stores are equipped with its carts.' Linden Gao, co-founder and CEO of Caper, says, 'It doesn't make sense that you can order a cab with your phone or go book a hotel with your phone, but you can't use your phone to make a payment and leave the store. You still have to stand in line.' The current Caper cart involves scanning an item's barcode and then throwing it into the cart. Brittany Roston, senior editor and contributor at SlashGear, reports, 'The smarter version will eliminate the barcode part, making it possible to simply put the items in the cart while the built-in tech recognizes what they are.' Chris Albrecht, managing editor at The Spoon, also reports, 'The future iterations, already in the works, will remove the barcode and will use a combination of computer vision and built-in weight scales to determine purchases. The customer completes shopping, and pays on the built-in screen.' The concept of scanless carts involves deep learning and machine vision. Cameras are mounted in the cart. The screen on the cart gives the shopper different kinds of information - store map, item locator, promotions, deals etc. It recommends items based on contents already in the basket. Read on...

Tech Xplore: Next-level autonomous shopping carts are even smarter
Author: Nancy Cohen

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Mohammad Anas Wahaj | 28 nov 2018

For the success of businesses a solid foundation or strong core is necessary and then only innovative strategies, tactics, programs and technology that are applied will be impactful and bear fruits. Scott Vaughan, CMO of Integrate, suggests the focus on achieving the revenue marketing goals and provides five essentials that high-performing B2B marketing teams consistently focus on to drive high performance - (1) PRECISION - Accurately defining ICP (Ideal Customer Profile) and identifying best account opportunities: Engage the right audiences; Avoid random marketing to general people; Identify smaller group of core audience; Use advanced tech such as predictive marketing and intent data modeling to identify more of the best accounts and buyers. (2) TRUST - Committing to permission-based marketing in an increasingly regulated world: Treat information with care; Ensure the understanding and fulfillment of data-privacy laws; Permission mindset builds trust. (3) HYGIENE - Generating quality, actionable data to drive performance and create experiences: Recent survey by DemandGen Report finds, on average, more than 35% of the data in existing databases is unmarketable. Use effecient data hygiene; Bad data wastes marketing and sales efforts; Audit data-capture processes and sources, and use data governance filters before data enters database. (4) SPEED - Increasing velocity makes everything perform better: Current processes and tech investments need to have a speed evaluation; Identify areas where data can be routed faster and action can be taken within an appropriate time; Watch closely 'pipleline velocity' (Time from when an opportunity identified and finally converted into a deal) (5) INSIGHTS - Measuring to understand the good, the bad and the ugly: High-performing marketing teams use insights with key ingredients like agreed-upon key performance indicators (KPIs), tools that can measure performance, easy-to-use shared dashboards for all stakeholders (marketing, sales, management etc). Read on...

MarTech Today: 5 essential strategies B2B marketers must master in 2019
Author: Scott Vaughan

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